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Carnival (CCL) Dips More Than Broader Market: What You Should Know
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In the latest market close, Carnival (CCL - Free Report) reached $16.23, with a -0.86% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.11%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 0.41%.
Shares of the cruise operator witnessed a gain of 6.92% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 0.38% and the S&P 500's gain of 2.7%.
Market participants will be closely following the financial results of Carnival in its upcoming release. On that day, Carnival is projected to report earnings of -$0.18 per share, which would represent year-over-year growth of 67.27%. Meanwhile, our latest consensus estimate is calling for revenue of $5.4 billion, up 21.82% from the prior-year quarter.
Any recent changes to analyst estimates for Carnival should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.22% upward. At present, Carnival boasts a Zacks Rank of #2 (Buy).
Digging into valuation, Carnival currently has a Forward P/E ratio of 16.1. This expresses a discount compared to the average Forward P/E of 16.25 of its industry.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Carnival (CCL) Dips More Than Broader Market: What You Should Know
In the latest market close, Carnival (CCL - Free Report) reached $16.23, with a -0.86% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.11%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 0.41%.
Shares of the cruise operator witnessed a gain of 6.92% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 0.38% and the S&P 500's gain of 2.7%.
Market participants will be closely following the financial results of Carnival in its upcoming release. On that day, Carnival is projected to report earnings of -$0.18 per share, which would represent year-over-year growth of 67.27%. Meanwhile, our latest consensus estimate is calling for revenue of $5.4 billion, up 21.82% from the prior-year quarter.
Any recent changes to analyst estimates for Carnival should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.22% upward. At present, Carnival boasts a Zacks Rank of #2 (Buy).
Digging into valuation, Carnival currently has a Forward P/E ratio of 16.1. This expresses a discount compared to the average Forward P/E of 16.25 of its industry.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.